Weiss Cryptocurrency Ratings Face DDoS Attacks

Weiss Cryptocurrency Ratings reported not being heavily damaged after DDoS attacks the night before the release of highly anticipated cryptocurrency ratings list

25 January 2018
433

On January 22, we have reported that Weiss Ratings, an independent rating agency of financial institutions, had announced it would issue letter grades on cryptocurrencies, basing them on a model that analyzed thousands of data points on each coin’s technology, usage, and trading patterns.

On January 24, Weiss Ratings reported that the team of the project was busy all night before the release of the ratings trying to avert service attacks from Korea, which were aimed at bringing down the Weiss Ratings website.

Earlier commentary on social media expressed considerable fear we were about to release negative ratings on their preferred currencies. So this may be an attempt to thwart our release today.

Martin D. Weiss

Founder, Weiss Ratings

Moreover, the founder of Weiss Rating stated that more than 100,000 unique visitors explored the website within just several hours, almost entirely from Asia, and the Weiss Ratings staff had to expand the server capacity on the cloud many times over in order to handle the volume.

Weiss Cryptocurrency Ratings Example

Nevertheless, the attacks did not damage the website and the ratings were successfully released, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others, causing a lot of controversy and arguments in the cryptocurrency community.

Iranian Central Bank Doesn’t Recognize Bitcoin as Official Currency

The Central Bank of Iran announced that it has never recognized Bitcoin as an official currency and conducts no transactions in it or other cryptocurrencies

22 February 2018
37

Last year, the Iranian government was interested in utilizing cryptocurrencies as a way of bypassing economic sanctions levied against the country. Today it completely changed its mind. The Central Bank of Iran announced that it will never recognize Crypto as official currency.

The bank informed citizens about risks of making investments because there is a chance to lose financial assets. Currently, the bank is cooperating with other institutions to develop mechanisms to control and prevent the use of cryptocurrencies in the country.

The wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme have made the market of these currencies highly unreliable and risky.

The Central Bank of Iran

However, there is some positive news. Today, Iran’s Information and Communications Technology (ICT) Minister Mohammad-Javad Azari Jahromi informed about the development of a local cryptocurrency by Post Bank. Unfortunately, the stage of research is not stated.